:According to an influential argument in business ethics and economics, firms are normatively required to maximize their contributions to social welfare, and the way to do this is to maximize their profits. Against Michael Jensen's version of the argument, I argue that even if firms are required to maximize their social welfare contributions, they are not necessarily required to maximize their profits. I also consider and reply to Waheed Hussain's ‘personal sphere’ critique of Jensen. My distinct challenge to Jensen seems (...) to me fatal to any view according to which firms are normatively required to maximize their profits. (shrink)

Utilitarianism would allow any degree of inequality whatsoever productive of the greatest happiness of the greatest number. But it does not guide political action, because determining what level of inequality would produce the greatest happiness of the greatest number is opaque due to well-known psychological coordination problems. Does Rawlsian liberalism, as is generally assumed, have some superiority to Utilitarianism in this regard? This paper argues not; for Rawls’s ‘difference principle’ would allow any degree of inequality whatsoever that best raises up (...) the worst off, and similar psychological coordination problems apply. It concludes that Rawlsian liberalism, designed to solve the problem that Utilitarianism will not give us stable rules and will counsel their violation, and giving us in the process a contract and rights within a semi-consequentialist framework, repeats (in the difference principle) that very problem of Utilitarianism. It fails substantively to guide the level of inequalities permitted in such a framework. (shrink)